[Cover Story #4] Korean Startups, Venture Firms Grow Quantitatively As Well As Qualitatively


Jobless growth has been continuing in South Korea. During the past three years, the country recorded a coefficient of employment of 0.35 and 0.17 in response to an increase of one billion won (US$900,000) in the asset of the top 100 and 20 enterprises, respectively. It was the reason why Park Geun-hye administration chose the realization of a creative economy as its top priority and established Centers for Creative Economy & Innovation in order to deal with the low growth of the South Korean economy and the lack of employment by means of job creation in startups, venture firms and small and midsize enterprises (SMEs). The idea was to set up an ecosystem in which venture firms and startups can be provided with assistance for training, networking, overseas business expansion and so on all at the same time so more of them can be better nurtured.

I am interested in applying design thinking to the business. I love to code in Central Park on weekends and build something people love to use. You can reach me at sehwan@techforkorea.com


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